California CodesBusiness and Professions Code - BPCDivision 4 — Real EstatePart 1 — Licensing of PersonsChapter 3 — Real Estate RegulationsArticle 2.1 — Secure and Fair Enforcement for Mortgage LicensesSection 10166.17

In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Multistate Licensing System and Registry. In order to carry out this requirement the commissioner is authorized to participate in the Nationwide Multistate Licensing System and Registry. For this purpose, the commissioner may establish by rule, regulation, or order, requirements as necessary, including, but not limited to, the following:

(a) Background checks for the following:

(1) Criminal history through fingerprint or other databases.

(2) Civil or administrative records.

(3) Credit history.

(4) Any other information as deemed necessary by the Nationwide Multistate Licensing System and Registry.

(b) The payment of fees to apply for or renew licenses through the Nationwide Multistate Licensing System and Registry.

(c) The setting or resetting as necessary of renewal or reporting dates.

(d) Requirements for amending or surrendering a license or any other activities as the commissioner deems necessary for participation in the Nationwide Multistate Licensing System and Registry.

Notes

Requires mortgage loan originators to be licensed and registered through the Nationwide Multistate Licensing System and Registry and authorizes the commissioner to participate in that system. The commissioner may establish necessary requirements, including criminal, civil, administrative, credit, and other background checks, application or renewal fees, renewal or reporting dates, and procedures for amending or surrendering licenses.

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Lexinter.net | California Code, Business and Professions Code - BPC § 10166.17 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-1/chapter-3/article-2-1/section-10166-17

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